Amogy

Overview
Alternative Energy?
Product stageSegments

Amogy is developing portable carbon-free energy systems with ammonia as a renewable fuel source, which is claimed to have 5x higher system-level energy densities than lithium batteries. Amogy targets shipping, trucking, material-handling equipment, and distributed energy systems and data center industries and is expected to achieve commercialization by 2024. The company’s tech involves cracking liquid ammonia into hydrogen for direct integration into a fuel cell.

Amogy has rapidly scaled up the power output of its energy systems with demonstration milestones including a 5 kW emission-free ammonia-powered drone in July 2021, a 100 kW powerpack in a tractor in May 2022, and a 300 kW ammonia-powered semi-truck in January 2023. The company expects to scale up to 10 MW+ systems for ships between 2024 and 2025. In December 2023, Amogy completed its technology verification phase with Lloyd’s Register, a provider of classification and compliance services for marine and offshore industries.

In September 2023, Amogy invested USD 40 million to construct a 53,000- sq.ft. manufacturing facility in Houston, Texas to assemble its systems. The facility is set to begin operations in early 2024. The company also scaled its operations to Norway in 2022 and Singapore in 2023.

Key customers and partnerships

In September 2022, Amogy partnered with Amon Maritime to advance carbon-free, ammonia power solutions for the shipping industry. In November 2022, the company in partnership with Southern Devall deployed its ammonia-to-power system in a marine vessel for the first time. During the same month, Amogy partnered with Yara Clean Ammonia to consider the former’s ammonia-to-power systems for its shipping projects. In December 2022, the company signed a contract with Ballard Power System to purchase fuel cell engines for ammonia-to-power maritime applications.

In February 2023, Amogy partnered with Sustainable Energy Catapult Center to begin testing for the 200kW ammonia-to-power platform in Norway. In April 2023, Amogy partnered with Marco Polo Marine to install ammonia-to-power systems in the latter’s existing or newly built wind vessels. In May 2023, Amogy partnered with Skansi Offshore and SEAM to explore potential technology collaboration in ammonia applications to decarbonize the offshore industry. During the same month, Amogy partnered with LSB Industries to promote low-carbon ammonia as a marine fuel. In June 2023, the company signed an agreement with an undisclosed Norwegian shipping company to supply four 200 kW ammonia-to-power systems. In July 2023, Amogy partnered with Southwind to explore the application of ammonia-to-power technology in the offshore wind industry.

In November 2023, Amogy partnered with Hy2gen to advance the use of renewable ammonia as a maritime fuel. During the same month, the company partnered with Azane Fuel Solutions to explore the technical and commercial feasibility of using Amogy’s ammonia-to-power system on board an Azane bunker vessel. In December 2023, Amogy partnered with Mitsubishi Corporation and SK Innovation to accelerate the adoption of Amogy’s ammonia-to-power and ammonia cracking technology in large-scale hydrogen carrier applications in East Asia, specifically Japan and South Korea.

In January 2024, Amogy partnered with Infinium to carry out pilot projects to explore opportunities to integrate their technologies and develop commercial applications for eFuels and green ammonia. In March 2024, Amogy partnered with W-Industries to explore opportunities to scale the design and fabrication of modularized and containerized versions of Amogy’s products. During the same month, the company partnered with Green Ships Invest to integrate ten 200 kW ammonia-to-electrical power systems in one of the latter’s Platform Supply Vessels (ePSVs), with plans to do the same to two other vessels in the future.

Funding and financials

In June 2023, Amogy raised USD 11 million in a Series B-2 funding round. Prior to this, in March 2023, Amogy raised USD 139 million in a Series B-1 led by SK Innovation. The company intended to use the funds to support commercialization, begin manufacturing its ammonia-to-power technology, and bring its first product to market in 2024. 

In June 2022, Amogy raised USD 46 million in funding to further scale and commercialize its technology. 

None comparable: Only company to have developed an ammonia-to-power system



HQ location:
19 Morris Ave Building 128, Amogy Brooklyn NY USA
Founded year:
2020
Employees:
101-250
IPO status:
Private
Total funding:
USD 219.3 mn
Last Funding:
USD 11.0 mn (Series B; Jun 2023)
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